March 18, 2013
Access to capital favors the wealthy and established, while new entrepreneurs like myself with lesser means are restricted by the Law. Your failure to obey the JOBS Act that was passed by the US Congress and signed by the President is unconstitutional.
As an individual struggling to get a great idea off the ground, your Rules are more than restrictive and prohibitive, they are discriminatory. The idea that qualified and savy investors cannot be solicited via publicity and advertising is diametrically opposed to the free market system.
In order for me to be compliant in trying to raise the millions needed for my venture, I either need to personally know those to fund my project, which is not the case. Or, I have to sell control of my vision that involves building a sound long term viable business rather than means for an investor to have a short term profit.
The SEC has been an instrument in maintaining the class warfare system throughout its history. After placing an individual on house arrest who violated the Law, you failed to compensate those like my mother and her husband who were soaked for nearly a $1M while the violator got to keep most of his assets.
Now, as I work to acheive success in my own venture you fail to comply with a law passed nearly one year ago that would allow me a vehicle to acheive that success. If you fail to pass an interim final ruling or a final ruling on this proposal, you will be acting unethically, immorally and unconstitutionally. You are asking for comments on a law that is already passed. Please implement immediately.